On 12th July 2018 Pine Creek Ltd completed a consultancy for Verona SPA (Italy) for a fee of uro 1million. The amount is paid into the Italian bank account of Pine Creek Ltd on 12th July 2018. Pine Creek Ltd decides to leave the amount in the Italian bank account, which pays interest each year on 30th June at a rate of 5% p.a.

The relevant exchange rates are: 12th July 2018 Aus$1.00 = uro0.63 30th June 2019 Aus$1.00 = uro0.60

Required: Provide the journal entries to account for the above transaction in the books of Pine Creek Ltd for the year ending 30th June 2019. (Show all workings and calculate to the nearest $).